Key e-commerce stakeholders currently include government, travel services (airlines, Indian Railway, bus operators), retailers and manufacturers, entertainment service providers and many others; Facilitators in the e-commerce sector such as logistics service providers, financial intermediaries, social networking sites, call centers of Internet service providers, network service providers, etc. help facilitate online transactions. 2 What is e-commerce? Electronic commerce (e-commerce or CE) is the purchase and sale of goods and services or the transmission of funds or data via an electronic network, mainly the Internet. These commercial transactions take place either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. The term e-tail is also sometimes used in connection with transactional processes around online trading. Information Technology Act 2000. The Information Technology Act 2000 is the only cybersecurity law in India that to some extent also regulates the online issues of e-commerce in India. Although the Information Technology Act mainly focuses on digital signature and related aspects, it stipulates that entrepreneurs and e-commerce owners must ensure due diligence of cyber law in India. In 2018, the government presented a much-needed draft policy on e-commerce. National and international concerns must have guided the design of such a policy.
The draft directive contains a number of elements of support for e-commerce actors. For example, the recommendation to establish a central registry for KYC will reduce the cost and burden of KYC-compliant payment systems. Similarly, the provisions which, despite the minority shareholding of project promoters, provide for a majority stake will allow young entrepreneurs to develop and seek financial support without relinquishing control of their business. The draft e-commerce policy has been criticized, as it has been seen by many as a regressive movement. However, this policy must be considered in developments on the international scene with regard to e-commerce. Proposals presented to the WTO on e-commerce typically cover almost everything under the sun, including physical commerce, e-commerce, payment systems, consumer protection, telecommunications networks, junk mail and source code, to name a few. If all these things are discussed in the WTO and can be negotiated in the future, the government needs to know its landing zones in international negotiations on various elements of e-commerce. It was in 1995 that the Internet was first introduced in India via dial-up connections. Since then, the technology has experienced evolutionary growth, with online B2B online portals appearing from 1996 to 2007, when the number of players in the e-tailing segment increased significantly. E-commerce has made our lives easier by allowing us to get what we need in just a few clicks from the comfort of our own homes. 20 Comparison The Indian e-commerce market is still developing and certainly has room for growth; E-commerce accounts for only 0.1% of total retail sales, compared to more than 2.9% in China. This figure is quite low compared to the penetration of e-commerce in developed countries such as the United States (7.0%).
32 traditional retailers forced to go onlineTo stay in the game, traditional retailers have been working on their internet strategy. For example, Shoppers Stop, which launched its online store in 2008, has increased its presence and improved its features and interface to put its face online on an equal footing with major e-commerce sites. The company is also trying to leverage its physical network by giving customers the ability to return products to its stores. In addition to Shoppers Stop, Croma has an online store with options such as pickup and cash on delivery. 40 The spread of e-commerce in rural and suburban India will provide choice to the growing number of customers who have disposable income and are willing to spend on their choices. It will also help the rural economy to integrate more quickly into the national economy. The government`s working paper notes that e-commerce has the potential to contribute more than 4% of India`s GDP by 2020. 18 MAIN CONTRIBUTIONS TO REVENUES OF TIER I, II AND III CITIES According to one study, Tier II and III cities accounted for nearly 57.0% of the total revenues of the various e-commerce product sites, while the remaining percentage came from the eight metropolitan cities. Tier II and TIER III cities also accounted for 54.0% of service locations, compared to 46.0% in the eight metropolises. 3 E-commerce ecosystem Online travel, ticketing, etc.
E-CommerceOnline Portals Online Portals Classifieds Safe Harbor Principles vs. Consumer Forums | Consumer Protection (Amendment) Act 2019 and its impact on e-commerce laws? According to the FDI Directive, which is contained in the “2015 Consolidated Circular on FDI Policy” (FDI Policy), foreign direct investment is allowed up to 100% automatically in electronic business transactions (B2B). In B2C (Business-to-Consumer) e-commerce, no foreign direct investment is allowed. However, FDI in B2C e-commerce is allowed in the following circumstances: The rapid growth of the e-commerce industry not only reflects the growing public acceptance, but has also highlighted the concerns of the country`s legal system. E-commerce laws are not confused with laws at all, as there is no specific codified law. Companies need to look at such a perspective of the particular situation for which laws need to be taken into account. To succeed in this area, e-commerce businesses need to have a thorough knowledge of the legal regime and potential challenges that an e-commerce business may face, as well as appropriate risk management measures. In addition, the regulation of the e-commerce sector is extremely dynamic and consists of scattered legal regulations. Therefore, all entrepreneurs who intend to venture into e-commerce should pay attention to the regulatory compliance and liability expected from e-commerce activities in India. They must observe each step they take in light of the current ecosystem as well as the expected future changes.
4 Indian e-commerce In terms of size, the online retail industry in India is very small compared to the organized and general (organized + disorganized) retail in the country. Industry sales are expected to more than double, from around 8% to around 18% of organised retail by 2016. The e-commerce sector in India has seen remarkable 34% compound annual growth rate (CAGR) growth since 2009 and is expected to grow at a CAGR of 63% to reach around USD 8.5 billion in 2016. However, as in all other thriving sectors, there are challenges in this sector, one of which is an inadequate and ineffective legal and regulatory framework capable of guaranteeing the rights and obligations of the Parties. India enacted the Information Technology Act in June 2000. But this is just enabling legislation; We need more regulations to make e-commerce transactions fairer and achieve a more consumer-friendly e-commerce environment in India. This article attempts to analyze the current laws and regulations for e-commerce in India, their effectiveness in dealing with the legal issues of e-commerce and the need to further complement this area. The Organisation for Economic Co-operation and Development (OECD) defines e-commerce as a new way of doing business and refers to it as doing business conducted on networks that use non-proprietary protocols established through an open standard-setting process such as the Internet. Under FDI policy, “e-commerce” includes both digital and physical products and services traded through digital and electronic networks. Law on Registration as an E-Commerce Company, 2013. Registration of an e-commerce company as a company or as a company or as a limited liability company [LLP] or as a sole proprietorship.